Learn to Optimize Your Marketing Budget

No company can survive without marketing. It is one of the most important path to success. Every company spends some budget for their marketing campaign, either small or big amount. However, no matter how small or big your marketing budget is, you need to learn how to optimize every penny of your marketing budget so that it will not be a waste of money.

Apply Low Cost but High Impact Marketing

Try to estimate and calculate properly your marketing budget. Think of how much do you have to spend in advertising when you want to achieve for like 1000 impressions so that people see or hear about you before they buy your product. Implement Low Cost with High Impact Marketing! With exact calculation and estimation, you can reach it.

Target Your Market Segments

Big marketing budget doesn’t always mean it will be successful. Sometimes, more could be less. It is better to emphasize on potential target segments with solutions that your products offer. Don’t extend your marketing campaign when it cannot attract all viewers or readers. It is better with less but more appealing marketing to potential targets. Selling to the right groups is more effective.

Build Collaboration than competition

When you run and just start a small business with limited physical and financial resources, it is better if you build good alliances with other small businesses in the similar industry with the same nature. This helps you gain strong offering power and potentially opens new distribution chances for you. As everybody knows, two working is better than only one working.

Offer Affiliate or Refferal Program (Word-of-mouth marketing)

People tend to believe people we know, who might have tried the product and are satisfied. These people can recommend to others they know about your product. That’s why you should offer affiliate program and invite all to join as word-of-mouth rarely fails.

Offering some amount of commission to refferal who put their effort on advertising your product won’t hurt your profit. Just remember, the more help you get, the more result you get too. Usual affiliate commission nowadays is between 20% to 40% of total sales your affiliates can get for you.

We all know that crisis is now happening all over the world. Due to that fact, being wise in spending our financial resources is necessary. However, that doesn’t mean you have to be stingy. Just be practical and efficient. This is the right time for you to learn how to optimize the budget you have for marketing.